Markets Technical Analysis

Bitcoin’s Short-Term Breakout Could Lead to a Bounce

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The Bitcoin price has broken out from a short-term descending resistance line.

  • There is minor support at $9,050.

  • The daily bias appears bearish.

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Bitcoin’s Short-Term Breakout Could Lead to a Bounce
On June 29, the Bitcoin (BTC) price broke out from a short-term descending resistance line. This could have been the beginning of an upward move that takes the price towards $9,300-$9,400. However, the longer-term outlook is still bearish, and BTC is expected to eventually decrease towards the range low. Short-Term Bitcoin Breakout The Bitcoin price had been decreasing alongside a
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Valdrin Tahiri
Valdrin Tahiri

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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